Venture Global LNG Plans Louisiana Liquefaction Processing Complex-Liquefied Natural Gas Export Terminal
Venture Global LNG will invest $4.25 billion to build a new liquefaction processing complex and liquefied natural gas export terminal on the Calcasieu Ship Channel at Calcasieu Pass, Louisiana.
Construction is expected to begin at the 203-acre Venture Global site in the third quarter of 2016. The liquefaction facilities are expected to be placed into operation in late 2019. The project will create 100 new direct jobs.
“The Venture Global export facility in Cameron Parish, Louisiana, will meet a global market demand for affordable, clean, American-produced liquefied natural gas,” William M. Wicker, the firm’s CEO said. “The Calcasieu Pass project is expected to be a low cost producer in the region. The Venture Global LNG best-in-class team, flexible technology solution and efficient business model will make it possible to deliver reliable, safe, low-cost LNG exports, changing the LNG market. Louisiana has become one of the most attractive states to do business, particularly in the energy sector, and we look forward to contributing to the Louisiana success story.”
With a planned export capacity of 10 million metric tons when fully developed, the facility will accommodate ocean going vessels with a carrying capacity of up to 185,000 cubic meters of liquefied natural gas.
Venture Global expects to source its feed gas for the Calcasieu Pass complex from one of the most liquid and robust natural gas trading areas in North America, including several major interstate and intrastate natural gas pipelines located nearby.
“The Venture Global LNG project supports our mission to remain a globally competitive economy in Southwest Louisiana,” said David Conner of the Southwest Louisiana Economic Development Alliance.
Governor Bobby Jindal said, “Venture Global’s investment in Louisiana is the latest in a long list of projects here in Southwest Louisiana that showcase our state’s energy infrastructure and our outstanding skilled workforce. Cameron Parish supports energy investment because it offers great access to both natural gas supplies and deepwater access for shipping LNG to customers around the world from right here in Louisiana.”
Louisiana Economic Development began formal discussions about the project with Venture Global in June 2013. The company is expected to utilize Louisiana’s Quality Jobs and Industrial Tax Exemption programs as it hires employees and places the capital project in service.
“The Venture Global LNG export facility puts Cameron Parish at the forefront of liquefied natural gas trade,” said Stephen Broussard, West Cameron Port District Director. “Due to the geographic location, and the depth of the Calcasieu Ship Channel, this project has a significant opportunity to bring vast economic prosperity to the area.”